SNB’s Record $52 Billion Loss Gives Critics More Ammunition
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The Swiss National Bank suffered a record loss for the first half of the year and warned a customary government payout was in jeopardy, giving politicians keen to raise their profile in an election year more fodder for criticism.
The SNB had a loss of 50.1 billion francs ($52 billion) in the six months through the end of June, the central bank said in a statement on Friday. That’s a record, according to SNB spokesman Walter Meier.